The Mines Ministry will conduct a due diligence study
before a final announcement is made by Mines Secretary Francis
Gudyanga, Chidakwa said by phone from the capital, Harare.

The local units of Anglo American Platinum Ltd., Impala
Platinum Holdings Ltd. and Aquarius Platinum Ltd. said last
month that they supported Zimbabwe’s plan to build a refinery
after the government threatened to ban exports of unrefined ore.

The country has the world’s biggest platinum reserves after
neighboring South Africa and produces 430,000 ounces of the
metal annually.

To increase production to the more than 500,000 ounces
annually needed to justify the construction of base and precious
metal smelters and refineries, investment of $2.8 billion is
needed in mines, as much as $2 billion in processing plants and
$200 million to $500 million to ensure adequate power supply,
the Harare-based Chamber of Mines said in a report obtained by
Bloomberg in October.